|Peoples Trust Secured MasterCard® Features|
|Annual Interest Rate
||These interest rates are in effect the day your account is activated.
Cash Advances: 24.5% Interest is charged from the date of posting to the account until paid in full.
Your interest rate will increase to 24.5% on your next statement if the minimum payment required is not paid by the due date.
|Interest-free Grace Period||25 days
You will benefit from an interest-free grace period of at least 25 days if you pay off your balance in full by the due date. There is no interest-free period on cash advances .
|Minimum Payment||3% or $10
Your minimum payment will be the greater of 3% of the outstanding balance owing and as shown on your monthly statement, or $10.
|Foreign Currency Conversion||2.5%
We will bill you in Canadian currency if you use your account to make transactions in a foreign currency. We will convert it directly to Canadian dollars at the exchange rate in effect at the time we post the transaction to your account. When the transaction is posted to your account, in addition to the exchange rate, you will be charged a foreign currency conversion of 2.5% for each foreign currency transaction.
|Annual Fees||Primary Card: $71.40 ($5.95/month; collected monthly) To be charged on your first monthly statement and monthly on your following statement.
Authorized User Card: $35.40 ($2.95/month; collected monthly) To be charged on the first monthly statement during which the authorized user is added and monthly on each following statement.
|Other Fees||To be charged on the day the transaction occurs:
Cash Advance Fee: $5.00 – for each cash advance at a banking machine or financial institution.
Returned Payment Fee: $39.00 – for each payment returned by a financial institution.
Duplicate Copy Fee: $2.50/page – for each duplicate monthly statement requested.
Duplicate Sales Draft Fee: $5.00 – for each duplicate sales draft requested.
Express Card Delivery: $39.00 – for each card, if customer requests priority mail.
Overlimit Fee: $29.00. – changed on your following monthly statement where you exceeded your credit limit.
Inactive Account Credit Balance Adjustment Fee: $10.00. - applied to inactive accounts which have been closed and have credit balances outstanding. To be charged on the day the credit balance is adjusted.